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First Cobalt to spend A$9m on new project

PERTH ( – ASX- and TSX-listed First Cobalt has approved a A$9-million works programme at the Iron Creek project, in the US.

First Cobalt acquired the Iron Creek project through its takeover of US Cobalt in June.

The company said on Tuesday that its 2018 drill campaign at Iron Creek would cover some 30 000 m and will consist of 70 holes aimed at extending the known mineralisation along strike, and to bring a portion of the inferred mineral resource estimate into the measured and indicated categories.

A mineral resource estimate is expected in October this year.

“First Cobalt acquired US Cobalt because we believe that Iron Creek is one of the most prospective and advanced projects in North America,” said CEO and president Trent Mell.

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